Study: Loan terms are getting shorter.(NEWS)(Brief article)

Byline: Donna Harris

The recent trend toward longer auto loans is reversing, a new study suggests.

The average loan term for both new- and used-vehicle purchases declined in the first half of 2009, reports the research firm Experian Automotive.

"For at least the last year, we've seen drops in terms, says Melinda Zabritsky, Experian's director of automotive credit. "While there were still instances of longer terms, the overall averages were staying near 60 months.

The Experian study shows that in the first half of this year, the average loan maturity for new-vehicle purchases was 62 months, down from 63 months in the first half of 2008.

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